Which of the Following Statements,if Any,about an LLC Is False

question 147

Multiple Choice

Which of the following statements,if any,about an LLC is false?

• A)An LLC is usually taxed like a partnership.
• B)"Members" of an LLC generally have limited personal liability for debts of the LLC.
• C)"Members" of an LLC can participate in management of the LLC unless the member agrees not to participate.
• D)An LLC can specially allocate income items,as long as the substantial economic effect rules of § 704(b)are followed.
• E)None of the above statements is false.

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Definitions:

Introductory Offer

A promotional strategy involving a temporary low price or additional benefits to attract new customers or introduce a new product.

Sales Orientation

A business approach that focuses on making sales of existing products the priority, often at the expense of understanding or addressing the underlying needs of the customer.

Yoga Studio

A dedicated space where individuals participate in yoga classes or practices, often led by experienced instructors, focusing on physical postures, breathing techniques, and meditation for health and relaxation.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales in that market.